Advertisements
Advertisements
Questions
Give one difference between normal cost and abnormal cost.
Distinguish between:
Normal cost and abnormal cost.
Distinguish Between
Solution
| Basis of Distinction | Normal cost | Abnormal cost |
| lncurrence | The normal cost is the cost that is normally incurred at a given level of output. | Abnormal cost is the cost that is not normally incurred at a given level of output in the conditions in which that level of output is normally attained. |
| Charging | Charged to the cost of production. | Charged to profit and loss account. |
shaalaa.com
Controllable and Uncontrollable Costs
Is there an error in this question or solution?
APPEARS IN
RELATED QUESTIONS
Distinguish betwen implicit costs and explicit costs.
State one difference between Historical costs and Predetermined costs.
Differentiate between expired and unexpired costs.
Write short notes on opportunity costs.
Explain the following with an example:
Marginal cost.
Distinguish between private costs and social costs.
Explain the following:
Out of pocket cost.
Explain the following:
Differential cost
Explain the following:
Notional or imputed cost.
Explain the following:
Replacement cost
